PALMDALE – RAAM Construction, Inc., a general building construction firm specializing in multifamily projects throughout California, has broken ground on the construction of an affordable multifamily housing development in Palmdale.
Palmdale Terrace, located at 25th Street East and East Avenue Q12, will consist of a three-story building connected to a two-story building with a total of 151 family apartment units in an area where budget-friendly housing for families is scarce, according to Richard Lara, President of RAAM Construction.
“There is a deep need for new and affordable housing in Palmdale, as vacant housing units currently sit at just 7.4 percent,” Lara in a news release. “Palmdale Terrace will help fill this void in the community by providing brand-new, fully equipped and affordably priced residential units for families and individuals that need it most.”
RAAM is working closely with Meta Housing Corporation, a developer of affordable housing communities for families and seniors, along with Western Community Housing, AMJ Construction Management and Y&M Architects, to deliver the new residences for individuals and families in the Palmdale market earning between 30% and 60% of Los Angeles County’s median income. Valued at roughly $60,900,000, the project is being developed with the help of a construction loan from Pacific Western Bank, and potentially other sources, for $40,502,120.
Meta and RAAM also worked together on Juniper Grove, another affordable housing community in Palmdale that broke ground in March. [Read more here.]
“We have worked with Meta on several projects over the years, most of which have been the development and construction of affordable housing throughout California,” Lara said. “This partnership has allowed us to form a strong understanding of Meta’s needs and how to best work together to navigate the evolving affordable housing landscape while keeping projects on time and on budget.”
When construction is completed, Palmdale Terrace will offer a mix of one-, two- and three-bedroom units. All units will have fully equipped kitchens and bathrooms, with onsite amenities that include community gathering areas, a shaded picnic area, a large children’s play structure, and a dog park. Two units will be dedicated for onsite managers, who will reside at the property and ensure that the residents and the neighboring community have a constant point of contact.
The development is situated in close proximity to 7-Eleven; restaurants, including Doublz, Las Cazuelas, El Cevichazo, and El Pollo Loco; schools, including Palmdale High School and Manzanita Elementary School; and public parks, including William J. McAdam Park.
Palmdale Terrace is expected to be completed in May 2023.
[Information via news release from RAAM Construction.]
Previous related story: RAAM Construction breaks ground on $33.3M affordable housing development in Palmdale